Wolters Kluwer (WKL) investor relations material

Opening remarks and agenda

• Meeting convened at corporate office with full Supervisory and Executive Boards present, auditor, and notary; all statutory requirements for valid resolutions met.

• Meeting covered review of the 2025 annual report, financial statements, dividend proposal, board composition, remuneration, executive authority, share buybacks, and amendments to the Articles of Association.

Financial performance review

• Achieved 6% organic revenue growth in 2025, driven by recurring revenues and cloud-based solutions; adjusted operating profit margin rose 40 basis points to 27.5%, and diluted Adjusted EPS up 9% in constant currencies.

• Adjusted free cash flow increased 10% to €1.3 billion, return on invested capital at 18%, and leverage at 2x.

• €1.7 billion returned to shareholders; recurring revenues up 7% organically, cloud software revenue grew 14–15% organically, and recurring revenues now 85% of total.

• 70% of digital revenues now AI-powered; major AI product launches in health, tax, and legal sectors.

• 2026 guidance: ~28% operating margin, €1.3–1.35 billion free cash flow, high single-digit EPS growth.

Strategic initiatives and plans

• Accelerating AI innovation with increased product development spend to 12–13% of revenues and focus on scaling AI-enabled solutions, expanding partnerships, and intensifying data-driven go-to-market approaches.

• Launched UpToDate Expert AI in health, CCH Axcess AI modules in tax, and Libra AI Workspace in legal, with strong customer adoption and expansion to 9 European markets.

• Emphasized unique strengths: proprietary content, customer-centric platforms, expert-validated AI, and deep ecosystem integration.

• Pursuing value-enhancing acquisitions and accelerating cloud transition.

• Immediate priority to capture AI revenue opportunities and intensify go-to-market strategies.